South Korea election a minor setback for capital market reform

TOKYO/SEOUL — South Korea’s efforts to boost corporate valuations through a government-led initiative will likely face minor delays, following the ruling party’s crushing defeat in legislative elections. 

South Korea’s main opposition Democratic Party won 161 seats out of 254 directly elected seats in a landslide victory in Wednesday’s elections, as voters rendered their verdict on President Yoon Suk Yeol’s nearly two years in office, according to National Election Commission data. The total does not include 46 proportional representation seats where the tally is yet to be finalized.